Primary aluminium inventories in China loss 7,000 tonnes this week, stocks standing at 755,000 tonnes

Primary aluminium inventories in China have recorded a plunge of 7,000 tonnes this week ended on Thursday, August 27, following a rise of 25,000 tonnes in the week earlier, found Shanghai Metals Market. According to the data, the social inventories of primary aluminium have declined across eight Chinese consumption areas, including SHFE warrants, to stand at 755,000 tonnes versus 762,000 tonnes on last Thursday, August 20.

The chart below indicates the current status of primary aluminium inventories across China in more details:

Nanhai, among all the major Chinese markets, has seen the highest downfall of 9,000 tonnes to 185,000 tonnes, as of August 27, followed by the decline of 4,000 tonnes in Shanghai to stand at 112,000 tonnes. In Tianjin and Hangzhou, the primary aluminium inventories have decreased by 3,000 tonnes and 2,000 tonnes to 55,000 tonnes and 98,000 tonnes, while that in Chongqing have dipped by 1,000 tonnes to come in at 2,000 tonnes.

However, in Wuxi and Gongyi, the inventories have increased by 6,000 tonnes to 243,000 tonnes and 53,000 tonnes, respectively. In Linyi, on the other hand, the inventories have remained restrained at 7,000 tonnes.

Despite the decrease in primary aluminium inventories, the A00 aluminium ingot price has recorded a fall today by RMB 40 per tonne to stand at RMB 14,730 per tonne, according to Shanghai Metals Market data.